India’s Cabinet Said to Ease Rules That Curbed Chinese Investment

India approved relaxing rules for investments from bordering countries to support local manufacturing, mainly aimed at China and signaling improving economic ties with its largest neighbor and geopolitical rival.

The changes to the foreign direct investment rules for countries sharing a land border will boost manufacturing in specified sectors such as electronic components, capital goods and solar cells, according to an official statement on Tuesday. Proposals in these sectors will be processed within 60 days, and the list of eligible sectors may be revised.